Anderson Associates chartered building surveyors
RICS

CHARTERED BUILDING SURVEYORS

South-East London · Kent · East London · Essex · Suffolk
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Flat in converted dock building, Isle of Dogs London, Value: £300,000 Edwardian Semi Detached House, North London, Value: £250,000 8 Bedroom Victorian Detached House, Brockley London, Value £700,000 1930s Detached House, Eynsford Kent, Value: £350,000 17th Century Timber Framed Thatched Cottage, Attleborough Norfolk, Value: £250,000 Victorian Semi Detached House, Bromley London, Value: £400,000 1930s Detached House, Locksbottom Kent, Value: £1,250,000
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Chartered institute of surveyors
THE ASSOCIATION OF PLANNING SUPERVISORS

Mortgage Valuation (MV)

What it is

When a bank, a building society or any other lender is looking to offer you a mortgage, they will usually want a Mortgage Valuation.

This is not a full survey - it's simply a way for the lender to

  • check the basic condition of the property
  • ensure it's a suitable security for the loan, and
  • get an Open Market Valuation (OMV) - a realistic idea of what the property is worth in today's market.

What it does

It simply gives information about the property that might make a lender think again about lending money on it.

What you need to know

  • It isn't a full survey - you will need to know more about the property than the Mortgage Valuation alone will tell you
  • The Mortgage Valuation isn't really for you - the contract is between the lender and the valuer.

What we think

To make a well-informed decision whether or not to buy, you need a more detailed survey.


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